U.S. Consumer Prices Inch Up Less Than Expected In July

A report released by the Labor Department on Friday showed a modest uptick in consumer prices in the U.S. in the month of July.

The Labor Department said its consumer price index inched up by 0.1 percent in July after coming in unchanged in June. Economists had expected prices to rise by 0.2 percent.

Food prices rose by 0.2 percent in July after coming in unchanged in June, while energy prices edged down by 0.1 percent after tumbling by 1.6 percent in the previous month.

Excluding food and energy prices, core consumer prices still crept up by 0.1 percent in July, matching the increases seen in the three previous months. Core prices had also been expected to climb by 0.2 percent.

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